Puravankara Limited announced that its wholly-owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent from Sion Eden Developers Private Limited. The contract pertains to the execution of civil and structural works for the project Embassy Eden, located in Bengaluru.

Contract Details

The agreement has been classified as an item rate contract awarded by a domestic entity. The total value of the order stands at ₹133.34 crore, inclusive of Goods and Services Tax (GST). The project scope involves comprehensive civil and structural construction activities for the specified development.

Project Timeline

According to the disclosure, the execution period for the order is set at 34 months. This timeline commences from the date the site is officially handed over to the contractor, ensuring a structured schedule for the completion of the works.

Key Contract Information

The company confirmed that the order does not involve any related party transactions, nor do the promoter or group companies hold any interest in the entity awarding the contract.

Puravankara Limited announced its financial results for the quarter and year ended March 31, 2026. The company reported a significant turnaround in profitability, with consolidated Profit After Tax (PAT) for FY26 rising 131% year-on-year to ₹58 crore. This performance was underpinned by the highest-ever annual sales of ₹7,407 crore, a 55% increase from ₹4,783 crore in FY25. The Board has set a pre-sales guidance of ₹11,200 crore for FY27.

Operational Highlights

The company achieved robust operational metrics during the year. Sales volume for FY26 stood at 7.25 million square feet (msft), compared to 5.67 msft in the previous year. Average realisation increased by 21% year-on-year to ₹10,213 per square foot. Customer collections for the year rose 15% to ₹4,258 crore. For the quarter ended March 31, 2026, sales value reached ₹3,547 crore, the highest-ever in any quarter, with sales volume of 3.01 msft.

Strategic Expansion

Puravankara strengthened its development pipeline through strategic acquisitions and joint development agreements, adding a cumulative estimated Gross Development Value (GDV) of approximately ₹15,200 crore. Key transactions included entering the premium Mumbai redevelopment market with projects in Malabar Hill and Chembur, and securing land parcels in Bengaluru. The company launched 6.39 msft of new area during the year and completed 4.53 msft, handing over 3,747 units.

Financial Position

As of March 31, 2026, the company's net debt stood at ₹2,321 crore, a reduction of ₹160 crore in Q4 FY26. The net debt-to-equity ratio was reported at 1.31. The total estimated surplus from ongoing projects, commercial projects, and the launch pipeline stands at ₹19,290 crore projected over the next 3-5 years. The company also holds 2.53 million square feet of completed properties pending revenue recognition, expected to drive future revenue growth.

FY27 Guidance and Outlook

Management has outlined detailed guidance for FY27, with pre-sales of approximately ₹11,200 crore targeted for the year. Of this, 48% is expected from sustenance sales and 52% from new project launches. On a regional basis, ₹7,000 crore of the total projected sales are expected from the Southern market, with the remaining contribution from the West and Commercial Business segments. The following table summarises the key FY27 guidance parameters:

A debt reduction of approximately ₹750 crore is targeted for FY27, excluding incremental borrowing for strategic business development opportunities. Management noted that the overall outlook for the real estate sector remains positive, driven by strong macroeconomic fundamentals, improving infrastructure, favorable demographics, and continued institutional participation. The company is also exploring growth verticals including data centers, warehousing, and retail, and remains open to opportunities in senior housing within large townships.